Of the more than 2.3 million CalPERS members, about one-third are retired today. We spoke with three retirees about their experiences, including how their monthly CalPERS payments support their lives. As it turns out, a CalPERS pension can go a long way.
Jan Sweigert
We spoke with Jan Sweigert, who at 68, looks back positively at her time in public service, as she says it ultimately allowed her and her family to lead a great life.
Sweigert served as a senior engineer with the State Water Resources Control Board specializing in drinking water treatment programs for most of her career in Monterey County. When she retired a few years ago, she was not only able to provide for herself and her husband, but also for their daughter with special needs.
“We say, ‘We’re retiring for three people, not two,’” Sweigert says.
Sweigert says she doesn’t have to use other retirement savings at this point, because her monthly payment from CalPERS — plus Social Security benefits — is more than enough to cover her living expenses. Other CalPERS benefits, she notes, have allowed her family more ease.
For instance, Sweigert has been able to add her daughter — who aged out of her parents’ health insurance plan at 26 — to her own CalPERS health plan, meaning she’ll have health coverage even after Sweigert and her husband pass.
“That, to me, was also an incredible advantage for our personal circumstance,” she says.
As far as what Sweigert has been up to these past four years, she and her husband bought a 19-foot Sprinter van — which has been put to good use.
The couple has traversed the country quite a bit since then — having gone as far as Alaska. In fact, she says they just wrapped up their second nine-week trip that took them out east and back, with Montana being a key destination for shorter trips to visit friends and family.
On top of her travels, Sweigert says she spends time volunteering — offering her services as a docent at the Point Lobos State Natural Reserve, about four miles south of Carmel.
While she’s blessed to do as much as she does at this point in her life, Sweigert advises soon-to-be retirees to prepare for retirement instead of just letting it happen. Knowing what to do before the finish line, she says, is just as important as reaching it.
“Start early when thinking about what you want to do in retirement, and make sure you’re protecting your health, your energy levels, and your ability to be active,” Sweigert says. “Because if you don’t start younger, it gets harder the older you get.”
Joe Woodford of Oceanside
For a majority of 78-year-old Joe Woodford’s career — upwards of 25 years — he worked for the San Bernardino City Unified School District handling human resources and employee relations. He retired from public service in 2001, opting to pursue other professional avenues — which he says he was able to do, in large part, thanks to his CalPERS pension.
“The income stream from CalPERS allowed me to venture out on my own and apply my skills in other areas that seemed interesting and rewarding,” Woodford explains.
In addition to his CalPERS pension, Woodford receives funds from his and his wife’s Social Security benefits and extra retirement savings he contributed to over the years — like a 403(b) plan and other IRAs. But he notes, his pension is his primary source of income, and it covers them just fine.
“I think it’s done more than bridge the gap,” he says. Now, Woodford spends time sailing, helping at a friend’s winery, and taking care of his spouse at their home near the beach.
Cynthia Santoro of San Jose
Cynthia Santoro (pictured on the right), 64, lives in San Jose and is retired after working at the Santa Clara Valley Transportation Authority for more than 20 years. Like Woodford, she says she’s been enjoying herself thanks to her CalPERS pension and decisions she made while in public service.
“I’m able to travel and enjoy activities that interest me,” Santoro says. “I’m in a good spot.”
One move Santoro made while in the workforce was to aggressively contribute to a deferred compensation plan, which she recommends members start chipping into early on. Ironically though, she doesn’t have to touch that money in retirement — something she attributes to her pension, which she says supports her well enough, so she doesn’t have to dip into any further savings.
“Those of us retirees who have a pension are so fortunate,” Santoro says. “Because I know seniors who are living on whatever investments they had and maybe Social Security — and they’re barely scraping by.
“I never take for granted, for a day, that I have this pension,” Santoro adds. As a result of her retirement benefits, she has been able to revive her passion for drawing — teaming up with local businesses that host and sell her artwork.
“It’s something I enjoy doing and people are responding to it, which is very satisfying,” she says.
Are you living your best retirement life? We’d like to hear from you. Email editor@calpers.ca.gov to share your story, which may be included in a future PERSpective article featuring retirees.